SunTrust 2003 Annual Report Download - page 5

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Annual Report 2003 SunTrust Banks, Inc. 3
And our mortgage operation has grown into one of the largest
and most successful in the United States.
We also have the scope needed to be a meaningful player in our
industry. We enjoy a leading position in virtually every market in
which we operate. With assets of more than $125 billion, we are big
enough to achieve the economies of scale that come with our size.
And we can comfortably handle the critical investments in facil-
ities, technology and people vital for future growth.
Thinking Big. Acting Locally.
What really sets SunTrust apart from other large, multi-state
competitors is our business operating model.
By that, we mean the way we’re set up to deliver SunTrust’s extensive resources –
our product range, our financial capabilities, our technology-based solutions – with
the personalized care and attention typically associated with smaller financial
institutions, especially in the consumer and commercial markets.
The key is true local orientation.
To ensure a uniform customer experience throughout the SunTrust footprint,
certain behind-the-scenes functions such as business strategy, marketing, product
development and technology planning are handled on a consolidated basis at our
corporate headquarters.
But when it comes to issues that directly affect customers in the marketplace –
things like pricing, credit extension or problem resolution – local SunTrust busi-
ness managers have far greater decision-making latitude than is the case at our
major competitors.
During 2003, we instituted a series of operating model refinements, mostly
invisible to customers and involving things like streamlining communication and
coordination of key support functions. These changes help our customer-focused
units, especially the more than 50 local banks that represent our primary “face”
to our communities, meet client needs with increasing speed and responsiveness.
An “Outstanding” Community Reinvestment
Act (CRA) rating, broad-based community
relations and philanthropic efforts and leader-
ship in a variety of civic organizations reflect
SunTrust’s long-standing commitment to
enhancing the economic and social vitality
of the communities we serve.